NextNav (NASDAQ:NN) Shares Up 7.5% – Should You Buy?

NextNav Inc. (NASDAQ:NN) traded up 7.5% on Monday . The company traded as high as $15.30 and last traded at $15.2910. Approximately 353,086 shares traded hands during trading, a decline of 84% from the average session volume of 2,235,821 shares. The stock had previously closed at $14.22.

Analysts Set New Price Targets

NN has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a research note on Friday, July 17th. Oppenheimer boosted their price objective on shares of NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Wall Street Zen raised shares of NextNav from a “sell” rating to a “hold” rating in a report on Saturday. Odeon Capital Group began coverage on shares of NextNav in a research report on Monday, July 20th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Wells Fargo & Company reissued a “buy” rating on shares of NextNav in a research note on Monday. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, NextNav has an average rating of “Moderate Buy” and a consensus price target of $32.33.

NextNav Trading Up 8.1%

The stock has a 50 day simple moving average of $15.29 and a 200 day simple moving average of $17.46. The firm has a market capitalization of $2.60 billion, a PE ratio of -15.85 and a beta of 1.12.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). NextNav had a negative net margin of 3,232.19% and a negative return on equity of 211.25%. The company had revenue of $1.15 million for the quarter, compared to analysts’ expectations of $0.92 million. As a group, equities analysts anticipate that NextNav Inc. will post -0.46 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel James Black sold 1,878 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $15.34, for a total value of $28,808.52. Following the transaction, the general counsel owned 89,810 shares in the company, valued at $1,377,685.40. The trade was a 2.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mariam Sorond sold 69,853 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $15.30, for a total transaction of $1,068,750.90. Following the sale, the chief executive officer owned 1,171,792 shares of the company’s stock, valued at approximately $17,928,417.60. This represents a 5.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 76,998 shares of company stock worth $1,181,378 in the last quarter. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NN. KBC Group NV acquired a new stake in NextNav in the first quarter valued at approximately $38,000. Grove Bank & Trust acquired a new position in shares of NextNav during the second quarter worth $53,000. Caitong International Asset Management Co. Ltd grew its stake in shares of NextNav by 732.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,127 shares of the company’s stock worth $69,000 after acquiring an additional 3,631 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of NextNav during the first quarter worth about $231,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of NextNav during the fourth quarter valued at about $245,000. Institutional investors own 79.16% of the company’s stock.

About NextNav

NextNav Inc (NASDAQ: NN) is a positioning, navigation and timing technology company that develops alternatives and complements to GPS. Its services are designed to provide accurate location and timing information in environments where GPS signals may be weak, unavailable or unreliable, including indoors and in urban areas.

The company’s primary offerings include Pinnacle, a 3D geolocation service that provides precise vertical positioning, and TerraPoiNT, a terrestrial network designed to deliver resilient positioning, navigation and timing signals.